The Iowa plain dealer. [volume] (New Oregon, Howard County, Iowa) 1867-1895, 1887-08-25
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i'is' 1.s.''V'.e'o - = ''''i''is 70 Gay - .
premium 81 500 fi-lco fl Associates
Press tl;.iatcll.
rha r,,1t4r. IN fla Pr, I,..,t.2
..i iS'i'S'.i'''4 'l's a 100 s. i'sst's.s
isk = fse.'s. fini.a"H ~ iair paper
a few weeks since. s..s.sittts tisat II II
governments sa.4lts contained! s<ata,
oDo.0a1 surplus that cafi.l Ii. .ani..;i-
at-ly applied upon he bonded d..i,t
/ Of tire country. ;.ilt. Erti,i.-. the pHr-
chase Of bonds Herewith. F. tiist
/ part Of the circular the PLAIN HFsi-
/ ER i'll is comments objected alleging
that the secretary shoald cali in tie
| bonds and pay them at pas with this
surplus. Ample and unalie.s. ioned
authority for this Is contained III tie
j &c. of March 18th. 1869 known ~ the
''act to strengthen the public credit"
| Tie second sentence in t,aat enact
m.nt revised statute. Of the L. :.
Sc. 3ta3 u. III s'le>e words:
But Eone Of the interest bearing
oniisa'i',is not a!feads cue, Satli -
~. s,..f, IT,. I,;tA IT $50,
notes are convertible into coin IL the
| option e tie holder. or unless II
Su'h iiiiif ,'oii.S - III ! li't'n ssta'ei
/ H.. hn,,is - -. rsds.n,aI ca, i. .oii
at par III coin"
| Now both contingencies for the
redemption or payment Of the intsr
est bearing obligations OF the govern
ment have come to pass.
United States notes" otherwise
known as .rc,nbacks are convert
ble into coin 1T tie aptian Of til.
holder and bonds If the United
States bearing d less rate Of interest
than any now Issued" can BE- sold Ill
par in coin aud bor, these facts
are well known to Secretary Fair |
child.
The act for the resumption Of
snecia paysnauts 10 ha.rin on The firSr
aay Of January 1879. a44.,ro,et, jam |
AIRY H. 1875. made all United s,,ate.
notes convertible into coin ii the |
on,;an of tl,e la,aer. From am, |
since the first day Of .;apeary 1879
t,,e secretary Of rhe treasury Nv the
net q, 1869 Ina. been fu,ls authorized
TO call for file outstanding interest.
bearing obligations Of the govern
ment. whether uron their face due
or NOT. making his call for thoss hear.
ing the highest rate OF interest and
having Them ut their face value with
accumulated interest to aufe 81 call
Instead of doing thi, nr. raireh;I.
becomes a purchaser Of tie ob,i-a-
lions of the government. rayina ia
Harvey Fisk & Sons for - Geo in
bond, bonus ol eaig. coo not one !
cent of which honu, was tie govern
ment under any obligation to ,av. :
or had the secretary any legal right
TO pay.
For more than twenty years tie
party administered the
government solely III the interest OF
the inonopolies OF the country at the
head OF winch STANDS the boAa-hoia-
ing and national bank monopo.ies.
In 1884 the peopie voted not only
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" ,
the go'efliihshi' pa' ios "iAo' "''s
far more important, TO change lfsi
Motley. Have they obtain
- ,.otaa f..,
ea
In 1878 congress passeo'a III" LOT
the recoinage Of the silver dollar,
II 10 circulation, and estab
;. en- -, .,,, .h,.
lis'iii5 - W. :
At the nlstisa'ioh Oh poiiaiioiaefs
and national bankers, President
Hayes vetoed the OIL. bs more
than two thisds Vote poth ofiiei'es
Of congress passed the bili over tAe
veto ana i; became ana Is the law.
TO show the purpose q. congress
in passing that law ana 10 gave Is
OF the measure III
January 1873 by more tiaan a ."o
thirds vote, both branches Of con-
gress passed the following resolu-
tions:
That all the bonds Of the United
States issued or authorized 70 be Is
sue" aiid 80 , saa;.aa W, -. ,aT-,,f.a
nrinc;nal and interest. at rhe opt:on
Of the government Of the Sni,ed
states, n *,.s.f doiissss u N soa'i-
sssl .rajn, eaen Of standard st'<'rr.